We are hoping to purchase a 2 bedroom flat in Ilford with a mortgage. We have a Ilford conveyancer, however the bank says she’s not on their "panel". We have to appoint one of the mortgage company panel firms or keep our Ilford property lawyer as well as pay for one of their panel firms to act for them. This feels very unfair; are we not able to demand that the bank use our Ilford conveyancer ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Ilford conveyancing lawyer to apply to be on the conveyancing panel.
Our grandson is purchasing a house that has just been built in Ilford with a mortgage from HSBC. His conveyancer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the HSBC conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the HSBC conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what should have been a quick, no chain conveyancing. Ilford is the location of the property. Is there any guidance you can give?
Flying freeholds in Ilford are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ilford you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ilford may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My brother has recommend that I instruct his lawyers for conveyancing in Ilford. Should I choose my own property lawyer?
Much as we are happy to recommend a Ilford conveyancing lawyer the best way to find a conveyancing lawyer is to get guidance from friends or family who have experience in using the firm that you are contemplating using.
Back In 2001, I bought a leasehold house in Ilford. Conveyancing and HSBC Bank mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1995. The conveyancing practitioner in Ilford who acted for me is not around. Any advice?
The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. It is not necessary to instruct a Ilford conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Following months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Ilford. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to decide the amount due.
An example of a Lease Extension case for a Ilford property is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case affected 1 flat. The number of years remaining on the existing lease(s) was 61.36 years.
I have been recommended a conveyancing solicitor in Ilford. I need to find out if they are on the lender's approved list of lawyers. Can you assist?
One option is to phone your solicitor to enquire if they are on the bank's approved list. Alternatively please get in touch with us and we can make some checks for you. If they are not on the bank panel we we can help find a reputable conveyancing solicitor in Ilford on the approved list for your mortgage company.